Fmr LLC Has $657.32 Million Stock Holdings in ITT Inc. (NYSE:ITT)

FMR LLC lowered its stake in ITT Inc. (NYSE:ITT - Free Report) by 11.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,600,508 shares of the conglomerate's stock after selling 588,572 shares during the quarter. FMR LLC owned approximately 5.64% of ITT worth $657,321,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rialto Wealth Management LLC acquired a new stake in ITT during the fourth quarter valued at $26,000. Resources Management Corp CT ADV acquired a new stake in shares of ITT during the 3rd quarter valued at about $30,000. ORG Wealth Partners LLC bought a new stake in shares of ITT in the 4th quarter valued at approximately $30,000. Whipplewood Advisors LLC acquired a new position in ITT in the fourth quarter worth approximately $34,000. Finally, V Square Quantitative Management LLC lifted its stake in ITT by 79.1% in the fourth quarter. V Square Quantitative Management LLC now owns 412 shares of the conglomerate's stock valued at $59,000 after acquiring an additional 182 shares during the last quarter. Institutional investors and hedge funds own 91.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ITT. Citigroup cut their price target on shares of ITT from $183.00 to $181.00 and set a "buy" rating on the stock in a report on Monday, January 13th. Stifel Nicolaus lowered their price objective on ITT from $179.00 to $148.00 and set a "buy" rating on the stock in a report on Monday. UBS Group upped their target price on ITT from $165.00 to $168.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. StockNews.com raised shares of ITT from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. Finally, KeyCorp decreased their price objective on shares of ITT from $170.00 to $150.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, ITT presently has a consensus rating of "Moderate Buy" and an average target price of $163.00.

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ITT Stock Performance

NYSE ITT traded up $2.36 during midday trading on Monday, hitting $127.91. The company had a trading volume of 117,187 shares, compared to its average volume of 425,934. The firm has a fifty day simple moving average of $135.84 and a two-hundred day simple moving average of $144.37. ITT Inc. has a fifty-two week low of $105.64 and a fifty-two week high of $161.13. The company has a quick ratio of 0.96, a current ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a market cap of $10.36 billion, a price-to-earnings ratio of 20.30, a P/E/G ratio of 1.89 and a beta of 1.36.

ITT (NYSE:ITT - Get Free Report) last released its earnings results on Thursday, February 6th. The conglomerate reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.48 by $0.02. ITT had a return on equity of 18.03% and a net margin of 14.27%. Equities analysts forecast that ITT Inc. will post 6.51 earnings per share for the current fiscal year.

ITT Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 6th were given a $0.351 dividend. This is a boost from ITT's previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Thursday, March 6th. ITT's dividend payout ratio (DPR) is 22.22%.

ITT Company Profile

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.